Tuesday, March 23, 2004

No Drug Company Left Behind

(CBS.MW) -- The Medicare program will be forced to dip into its trust fund this year and will be insolvent by 2019, seven years earlier than previously forecast, if it continues on its current path, government-appointed trustees warned in their annual report Tuesday.

"The financial outlook for the Medicare Hospital Insurance Trust Fund that pays hospital benefits has deteriorated significantly from last year, with annual cash flow deficits beginning this year and expected to grow rapidly after 2010 as baby boomers begin to retire," the report said....

The enactment of the Medicare prescription drug bill -- pegged at a cost of $534 billion by the Bush administration over the next decade -- helped push the Medicare insolvency date forward by two years, the trustees found."

...Got a problem widdat?

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